Bloomberg U.K. mortgage approvals fell less than expected in February, a sign that demand for housing remained resilient before tax changes take effect in April. Banks advanced 73,871 loans, compared with 74,085 in January, which was the highest level in two years, the Bank of England said in London on Thursday. While this was the first fall in five months, ...

DUBAI / Reuters Kuwait Projects Co (KIPCO), the Gulf state’s largest investment company, expects revenue growth to pick up this year, helped by its core investments in banking, insurance, broadcasting and real estate, it said on March 30. Vice chairman Faisal al-Ayyar said in a statement the company expected revenues to rise by a high single-digit percentage in 2016. That ...

AMMAN / EMIRATES BUSINESS Following the debut of its dedicated on-site sales centre and residential mock-up units, Saraya Aqaba has announced the official launch of sales for the project’s idyllic residences. The launch of residential sales was underscored by the debut of Saraya Aqaba’s new marketing campaign, and was celebrated during a stylish cocktail event that welcomed an array of ...

RIYADH / REUTERS Australia’s largest privately owned hotel management company StayWell Hospitality Group (SWHG) On March 29 announced the signing of a management agreement to open and operate the company’s first Park Regis properties in Makkah Saudi Arabia. Expected to open in the second quarter of 2018, the remarkable two hotels boast 286 and 344 guest rooms respectively (630 rooms ...

Bloomberg Han Fantong, an accountant, beat almost 60 other bidders to buy a three-bedroom home in Melbourne in November for A$930,000 ($709,000). He had an advantage — full funding from his parents back in China. Han, 32, an Australian permanent resident, bought the house on 688 square meters of land in Ringwood East, about 30 kilometers east of Melbourne’s business ...

Emirates Business Etihad Airways’ equity investment model has created a new force in global air travel, which protects and promotes competition, said the airline’s President and Chief Executive Officer James Hogan, in a speech in Melbourne on Thursday. Speaking at the City Business Luncheon at Melbourne City FC, Hogan outlined the challenges faced by airlines trying to bring new competition ...

DUBAI / WAM Dubai Electricity and Water Authority, (DEWA), has developed its use of drone technology as part of its Sirb (Arabic for fleet) initiative, which contains a fleet of high-end drones used to support Dubai’s infrastructure and contribute to providing efficient and easy-to-use services. The initiative supports national efforts to use modern technologies to serve humanity. DEWA has improved ...

Sunaina Rana / Emirates Business Joining the league of UAE’s commitment towards promoting sustainable products is an internationally renowned school uniform brand that brings innovative technology to develop sustainable fabric for uniforms. In wake of the global climate concerns, encouraging eco-friendly products are a must. However, experts suggest they should be continuously improved regarding social and environmental variation and requirements. ...

Emirates Business Bringing sci-fi to reality, the launch of the Smart Home Experience Zone at Shopper Smart Living invites visitors to experience the simplicity, comfort and convenience of a connected home firsthand – being able to control the latest smart home appliances with just an internet connection and a mobile device. Designed to look like a high-tech dream home, the ...

Ritika Sharma / Emirates Business Selected from over 40 developers, UAE-based El Techie, a team of five young app developers aged between 15 to 17 years, grabbed the grand-prize at the 2nd Live Hackathon series held at the inaugural Future Technology Week. As part of the prize, the team will receive a three-month internship at Pacific Controls Middle East and ...